CFO Mike Canarios: Managing Charitable Giving at St. Jude's Children's Research Hospital
Although its donors have shown how much they value pediatric cancer research and treatment in any economic climate, St. Jude Children's Research Hospital, based in Memphis, Tenn., must uphold its reputation as a leading institution — both medically and financially — to keep philanthropic revenue coming in.
Given its strong balance sheets, it seems St. Jude CFO Mike Canarios has done his part to earn donors' trust. Moody's Investor Services affirmed the hospital's "Aa2" rating with a positive outlook, citing its operating cash flow margin of 25.3 percent and sizable, stable philanthropic revenue, which averaged $739.9 million for the last three fiscal years.
In uncertain political times, the hospital's reliance on federal research grants amount to just 8.7 percent of operating revenues, greatly eclipsed by the nearly three-quarters of its adjusted operating revenue that is gift revenue, according to Moody's.
Mr. Canarios earned his bachelor's and MBA from Miami University of Ohio and was named the large non-profit "CFO of the Year" by the Memphis Business Journal in 2011.
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